As you know, according to the US law, in the case of the Securities and Exchange Commission against Howie, the US Supreme Court has developed a test to determine whether the transaction is related to an investment contract.
An investment contract is a type of security. Thus, the Howie test can be presented in the form of three independent parameters and the token is considered a security if it meets all three criteria:
- There is a fact of investing
- Investing in a common enterprise
- At the same time, profits are expected to come mainly as a result of the activities of others.
After passing the test, we certify that the ECHT tokens can not be classified by SEC and / or other competent national authorities as "security" and can be freely traded in any country of the world, including the USA!
The full probability assessment report is whether the e-Chat (ECHT) token, a security under the United States federal securities law, is
available on
our website.
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